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D. That the other benefits about which information <br />was requested are benefits that can be reasonably expected <br />to result from the proposed described redevelopment or <br />rehabilitation; and <br />E. That the totality of benefits is sufficient to <br />justify the deduction, all of which satisfy the requirements <br />of I.C. 6- 1.1- 12.1 -3. <br />SECTION III. The Common Council hereby determines and <br />finds that the proposed described redevelopment or rehabili- <br />tation can be reasonably expected to yield the benefits <br />identified in the Statement of Benefits set forth as sections <br />I through II of the Petition for Real Property Tax Abatement <br />Consideration and that the Statement of Benefits form <br />prescribed by the State Board of Accounts are sufficient <br />to justify the deduction granted under Section 5 -1.1- 12.1 -3 <br />of the Indiana Code. <br />SECTION IV. The Common Council hereby accepts the report <br />and recommendation of the Human Resources and Economic <br />Development Committee that the area herein described by <br />designated an Economic Revitalization Area and hereby adopts a <br />resolution designating this area as an Economic Revitalization <br />Area for purposes of real property tax abatement. <br />SECTION V. The designation as an Economic Revitalization <br />Area shall be limited to two (2) calendar years from the date <br />of the adoption of this Resolution by the Common Council. <br />SECTION VI. The Common Council hereby determines that <br />the property owner is qualified for and is granted property <br />tax deduction for a period of three ( 3 ) years. <br />SECTION VII. The Common Council directs the City Clerk <br />to cause notice of the adoption of this Declaratory Resolution <br />for Real Property Tax Abatement to be published, said <br />publication providing notice of the public hearing before the <br />Common Council on the proposed confirming of said declaration. <br />SECTION VIII. This Resolution shall be in full force <br />and effect from and after its adoption by the Common Council <br />and approval by the Mayor. <br />PRESENna 7-ay-F5 <br />NOT APPROVE- AN 2 2 1989 <br />ADOPTED g`- <br />RENE NAME <br />